LifePath Law 225 30th Street, Suite 300, Sacramento, CA 95816 Office: (916) 231-0688 Fax: (866) 335-1494 E-mail: Info@LifePathLaw.com
Estate Planning, Trust & Probate Administration, and Trust, Probate & Elder Abuse Litigation
What is an "Estate Plan?"
It’s a plan to decide “who gets what” when you pass away, right? Although this is a part of an estate plan, a comprehensive plan will also address how you and your family will be cared for during your mental incapacity, and any possible creditor protections for your beneficiaries, among other things.
Common Excuses for Not Planning or Updating Your Estate Plan Regularly
“When my dad died, my mom didn’t have to do anything and everything seemed to turn out just fine. So, I think we’ll be okay, too.”
Since many married couples hold their assets jointly, there do not appear to be any issues at the death of the first spouse: no probate, no taxes. However, without proper planning, both probate and estate taxes could occur at the death of the surviving spouse. Also, any issues about the surviving spouse’s mental incapacity would have to be dealt with in court.
“I’ll just let my family decide what to do with me as I get older and can’t care for myself.”
Dealing with your waning mental capacity and the challenges that go with it will probably be the most difficult and stressful experience for your loved ones. Through detailed planning, you can help relieve them of some of this burden while advocating for yourself.
“I’ll be gone, so who cares how much has to be paid to attorneys and the courts?”
Probate can cost up to 5% of the gross value of the assets being probated. For example, this would mean$25,000 in attorney’s fees and court costs for a house that has a fair market value of $500,000 at the date of death . . . even if there is only $10,000 equity in the house because there is a mortgage of $490,000! Proper planning can help to avoid a costly probate, leaving more for your loved ones.
“We just did our trust several years ago, and nothing has changed with how we want to leave our things to our beneficiaries, so we’re okay.”
A trust is ruled not only by what the trust says, but by statutory law and case law. Statutes can be made and changed by the legislature every year, and case law can be made at any time someone decides to sue over what they think should be happening in their particular situation. Enrolling in a formal maintenance program assures that your estate plan will be updated annually for any changes in the law, as well as for changes in your personal and financial circumstances, so that your plan does what you want, when you need it to.
It’s a plan to decide “who gets what” when you pass away, right? Although this is a part of an estate plan, a comprehensive plan will also address how you and your family will be cared for during your mental incapacity, and any possible creditor protections for your beneficiaries, among other things.
Common Excuses for Not Planning or Updating Your Estate Plan Regularly
“When my dad died, my mom didn’t have to do anything and everything seemed to turn out just fine. So, I think we’ll be okay, too.”
Since many married couples hold their assets jointly, there do not appear to be any issues at the death of the first spouse: no probate, no taxes. However, without proper planning, both probate and estate taxes could occur at the death of the surviving spouse. Also, any issues about the surviving spouse’s mental incapacity would have to be dealt with in court.
“I’ll just let my family decide what to do with me as I get older and can’t care for myself.”
Dealing with your waning mental capacity and the challenges that go with it will probably be the most difficult and stressful experience for your loved ones. Through detailed planning, you can help relieve them of some of this burden while advocating for yourself.
“I’ll be gone, so who cares how much has to be paid to attorneys and the courts?”
Probate can cost up to 5% of the gross value of the assets being probated. For example, this would mean$25,000 in attorney’s fees and court costs for a house that has a fair market value of $500,000 at the date of death . . . even if there is only $10,000 equity in the house because there is a mortgage of $490,000! Proper planning can help to avoid a costly probate, leaving more for your loved ones.
“We just did our trust several years ago, and nothing has changed with how we want to leave our things to our beneficiaries, so we’re okay.”
A trust is ruled not only by what the trust says, but by statutory law and case law. Statutes can be made and changed by the legislature every year, and case law can be made at any time someone decides to sue over what they think should be happening in their particular situation. Enrolling in a formal maintenance program assures that your estate plan will be updated annually for any changes in the law, as well as for changes in your personal and financial circumstances, so that your plan does what you want, when you need it to.
Come join me for a discussion about estate planning. The workshop is presented in a conversational manner with stories and analogies that will help you to sort through the basic, as well as some of the more daunting, legal concepts.
Here are examples of some of the topics which will be discussed:
How will you be cared for and your affairs be handled in the case of your mental incapacity: both acute (unconsciousness due to accident or injury) and long-term (Alzheimer's, stroke)?
How to leave your assets to your loved ones protected against their creditors and divorces?
Why most trusts do not work
How a formal updating and maintenance program makes sure your plan will work the way you want it, when you need it to
How to cut your total investment for your estate plan by as much as 50%
Estate Taxes: The Present and Near Future
The importance of funding your trust
Here are examples of some of the topics which will be discussed:
How will you be cared for and your affairs be handled in the case of your mental incapacity: both acute (unconsciousness due to accident or injury) and long-term (Alzheimer's, stroke)?
How to leave your assets to your loved ones protected against their creditors and divorces?
Why most trusts do not work
How a formal updating and maintenance program makes sure your plan will work the way you want it, when you need it to
How to cut your total investment for your estate plan by as much as 50%
Estate Taxes: The Present and Near Future
The importance of funding your trust
Complimentary Educational Estate Planning Workshops Available Twice a Month.
Call or E-mail for Available Dates. Workshop participants qualify for a no-cost private consultation with attorney, Donna N. Shioya.
Call or E-mail for Available Dates. Workshop participants qualify for a no-cost private consultation with attorney, Donna N. Shioya.
Here's what clients are saying about Donna:
"Donna really took the time to explain all of our options to us in a way that was very easy to understand (with stories!) and to answer all of our questions." Michelle C., homemaker and mother of two young children
"Donna made it all painless and easy. She took our hand and led us through it and made everything seem fine. She really took the stress out of planning for us." Sea M., artist
"The quality of service and value that Donna provided in not only designing our estate plan, but in regularly updating it surpasses that of any other estate planning firm I've come across in my profession. That's why my wife and I are her clients." Mike C., partner at a major national financial services company
"Donna really took the time to explain all of our options to us in a way that was very easy to understand (with stories!) and to answer all of our questions." Michelle C., homemaker and mother of two young children
"Donna made it all painless and easy. She took our hand and led us through it and made everything seem fine. She really took the stress out of planning for us." Sea M., artist
"The quality of service and value that Donna provided in not only designing our estate plan, but in regularly updating it surpasses that of any other estate planning firm I've come across in my profession. That's why my wife and I are her clients." Mike C., partner at a major national financial services company
“The Truth About Estate Planning”
Complimentary Educational Workshop
Presented by
Donna N. Shioya
Attorney & Counselor at Law
"With our busy schedule, we just don't have the time to follow-up with all of our financial institutions to make sure our assets are funded properly to our trust. I'm relieved that Donna's staff does all of this heavy lifting for us. Their regular follow-up and updates are reassuring -- I know that these important things are being taken care of and I can get on with my life." Guy Black, CPA, UMB Certified Public Accountant
"I like that Donna is thorough and always looking into other possible situations in the future that may affect my estate plan." Elly S.
These testimonials or endorsements do not constitute a guarantee, warranty, or prediction regarding the outcome of your legal matter.
"I like that Donna is thorough and always looking into other possible situations in the future that may affect my estate plan." Elly S.
These testimonials or endorsements do not constitute a guarantee, warranty, or prediction regarding the outcome of your legal matter.
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